Expense Management Service
Grace Mobility provides a comprehensive Expense Management Service, where all costs are tracked and recorded, including policy compliance, third-party payments, repeated payments, employee payments, tax coding and cost tracking, expense approval.
As part of our Expense Management Service, we prepare consolidated invoicing for our client with total cost reporting, along with detailed reporting reflective of the clients’ exact requirements.
Expense Management Service includes:
- International tax coding and cost tracking
- Relocation policy compliance and expense approval
- Pay period withholding and gross-up calculations
- Payroll interfacing and Accounts Payable reporting
- Management cost analysis reporting
- Employee and supplier payment processing
- Year-end gross-up calculations
- Relocation tax report and tax advisor booklet to every transferee
Additionally, our GraceNOW online system allows for expense files to be accessed in real-time and to produce expense and tax reports when required.
Online Expense Management platform components:
- Approved funding arrangements
- Payroll, tax and accounts reporting
- Track, audit and analyse compensation paid to domestic and international relocating employees
- Monitor expense trends and policy anomalies leading to potential cost savings
- Maintain compliance with National and International tax regulations and laws
- Import data to payroll, accounting and tax gross-up systems
Grace Mobility’s Expense Management Service advantages:
- Functions as an extension to client departments (Relocation / Mobility, HR, Payroll and Accounts Payable)
- Provide senior management with detailed reports and analysis
- Accurately projects expenses by category for future budgeting
- Ensure accuracy through integrated audit steps
- Grace oversees every aspect of the relocation expense management process
- Expense management year-end process includes client consulting regarding year-end cut-off, gross-up decisions, and year-end calculations
- Relocating employees may view expenses associated with their move, send online expense reports, and print their relocation tax reports
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